Medical robotic systems market is expected to grow over the forecast period owing to the increasing technological advancement in computerized surgical technologies such as bacteriobots or telemedicine for treating fatal cancer. The other growth drivers of this market are growing incidences of lifestyle induced diseases such as obesity & diabetes, sophisticated healthcare infrastructure, increasing population and awareness. These factors are expected to drive the market over the forecast period. Medical robotics is used in various surgeries and surgeons operate it with the help of computer. Medical robotic systems include small tools with robotic hands.
Demand of medical robotic systems market is spurred due to rising penetration rate of IT. Healthcare industry has witnessed paradigm shift due to which demand for medical robots has risen. It emphases more towards minimally invasive surgeries, these are now more preferred than normal surgeries, as it has many advantages attached to it, such as less risk of bleeding and infection, shorter duration of stay at hospital, shorter recovery duration, and scars length is short. The main objective of medical robotic systems is to reducing chances of occurring error while surgery and minimizing the workload of doctors.
Geriatric population are more prone towards disorders such as neurological, & orthopedics, technological advancement such as imaging system, software/applications and capsule robot system. Minimally invasive surgical procedures use video guidance procedures for conducting surgeries, such as Da Vinci System. As per the recent report published by FDA, U.S., says that in case of multiple types of operations Da Vinci system is most beneficial procedure. As of 2012, more than 85% of prostatectomies are performed with the help of Da Vinci system. The market has a huge opportunity over the forecast period due to the technological advancement, cost & time effective procedure, and favorable reimbursement policies.
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Product Insights
Medical robotic systems market is segmented on the basis of product types into rehabilitation, hospital/pharmacy and non-invasive radio surgery and surgical robots. Surgical robots include neurological surgical systems, orthopedic surgical robots, steerable robotic catheters and laparoscopy robotic systems. Hospitals/pharmacy robots classified into I.V robots, cart transportation robots, telemedicine robots and pharmacy robots. Further, rehabilitation robots includes assistive robots, therapeutic robots, orthotics, exoskeleton robotic systems, and prosthetic. Further, emergency response robotic systems classified into auto pulse plus robotic system and LS-1 robotic system.
Application Insights
Medical robotic systems market is segmented on the basis of application into laparoscopy, neurology, special education and orthopedics. Orthopedics includes stanmore sculptor surgical system, ZAKO RIO surgical system, navio PFS surgical system, robodoc surgical system, iBlock surgical system, all these surgeries are associated with musculoskeletal system. Laparoscopy surgeries are generally performed abdomen and pelvis areas. It classified into telelap ALF-X surgical system, da vinci robotic surgery system and freeHand endoscope holder system. Further, special education classified into renaissance surgical system, neuromate surgical system, and pathfinder surgical system.
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Regional Insights
Geographically, the Medical robotic systems market is studied by segmenting the market into North America, Europe, Asia Pacific and RoW. North America is dominating the whole market due to high per capita healthcare expenditure, availability high market penetration rate, sophisticated healthcare infrastructure, rising disposable income, various government or NGO’s initiatives, and increasing geriatric population. The growing economies in Asia Pacific such as India and China region are expected to witness lucrative growth during the forecast period due to the rising healthcare expenditure, increasing number of hospitals, adoption of medical robotic systems and awareness about the medical robotic devices. Asia Pacific region is expected to grow at a CAGR of 13.5% over the forecast period.
Competitive Insights
The major market players in the Medical robotic systems market are Medrobotics Corporation, iRobot Corporation, Hansen Medical, Inc., Titan Medical Inc., Health Robotics S.R.L., Renishaw Plc, Intuitive Surgical Inc., Productivity Plc., Accuray, Inc., Mazor Robotics Ltd., Varian Medical Systems, MAKO Surgical Corp., and Stereotaxis, Inc.
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